TransAlta Renewables (TSE:RNW) Reaches New 52-Week High at $14.21
Shares of TransAlta Renewables Inc (TSE:RNW) hit a new 52-week high on Tuesday . The company traded as high as C$14.21 and last traded at C$14.17, with a volume of 46652 shares. The stock had previously closed at C$14.08.
A number of equities research analysts have recently weighed in on RNW shares. CIBC lowered TransAlta Renewables from a “neutral” rating to an “underperform” rating and boosted their price target for the stock from C$13.00 to C$13.50 in a research note on Wednesday, April 3rd. Desjardins restated a “buy” rating on shares of Savaria in a research note on Wednesday, April 24th. National Bank Financial boosted their price target on TransAlta Renewables from C$13.00 to C$13.25 and gave the stock a “sector perform” rating in a research note on Wednesday. Raymond James restated a “buy” rating and set a $0.65 price target on shares of DB Commodity Double Short ETN in a research note on Wednesday, May 15th. Finally, Canaccord Genuity boosted their price target on TransAlta Renewables from C$13.00 to C$13.50 in a research note on Tuesday, May 14th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the stock. TransAlta Renewables has an average rating of “Hold” and a consensus target price of C$13.16.
The firm has a market cap of $3.74 billion and a price-to-earnings ratio of 15.03. The company has a debt-to-equity ratio of 39.78, a quick ratio of 0.91 and a current ratio of 2.03. The firm has a 50 day moving average price of C$13.82.
The company also recently announced a monthly dividend, which will be paid on Wednesday, July 31st. Investors of record on Wednesday, July 31st will be given a $0.0783 dividend. The ex-dividend date is Friday, July 12th. This represents a $0.94 dividend on an annualized basis and a yield of 6.62%. TransAlta Renewables’s dividend payout ratio is currently 99.57%.
About TransAlta Renewables (TSE:RNW)
TransAlta Renewables Inc develops, owns, and operates renewable power generation facilities. As of March 6, 2019, it owned and operated 21 wind facilities, 13 hydroelectric facilities, 7 natural gas generation facilities, 1 solar facility, and 1 natural gas pipeline comprising an ownership interest of 2,414 megawatts of generating capacity located in the provinces of British Columbia, Alberta, Ontario, Québec, and New Brunswick; and the States of Wyoming, Massachusetts, and Minnesota, as well as the State of Western Australia.
See Also: Market Perform
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